News

Tata looking to sell minority stake in PV business

According to a media report, Tata Motors is looking for a foreign partner to invest in its passenger vehicle (PV) business.

Tata Motors plans to induct a foreign partner by transferring the unit to a wholly-owned subsidiary for Rs. 9,417 crore. It is said that TML Business Analytics Services could be renamed Tata Motors Passenger Vehicles.

The company is reportedly in talks with multiple European and East Asian brands to sell up to 49% stake in its India passenger vehicle business. It is said to have conducted discussions with Geely, Changan and Chery, which is a 50% partner in Jaguar Land Rover's China business. Reports also suggest that Tata has held talks with the PSA Group but the process has slowed down since the merger of the French company with Fiat Chrysler Automobiles (FCA). 

A few years ago, Tata and Volkswagen were in talks to jointly develop an economy car. But, the plan never came to fruition.

In March 2020, the Tata Motors Ltd. Board had approved a plan to subsidiarize its passenger vehicle (including EVs) business. 

Source

  •  
 
Seat belts save lives